Best Buy Board Could Cash in with Buyout
At some point in the next six weeks or so, the directors at Best Buy Co. Inc. might be presented with an offer from founder Richard Schulze to buy the company. Their decision make them a lot richer.
That’s the takeaway from a story in the Star Tribune that runs down the stock holdings of the Richfield retailer’s directors. The biggest holder is current CEO Hubert Joly, who received 433,000 shares of company stock when he joined the company last year. If Schulze offers to buy Best Buy at $18 a share, Joly’s